Word: stanfords
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Creating the illusion of fantastic success, of course, is Chapter 1 in the Scammer's Handbook. But many among the most egregious alleged billionaire bamboozlers, like R. Allen Stanford and Bernie Madoff, are taking the art of thievery to the next level. Some don't even bother opening an investor account when new monies come in; they just go shopping. It's enough to make Gordon ("Greed is good") Gecko blush. (See 25 people to blame for the financial crisis...
...course, the above describes the lavish world of financer R. Allen Stanford, a near Madoff who, according to the SEC, allegedly pulled off a 15-year Ponzi based on suckering investors with $8 billion or more of so-called high-yield certificates of deposit. According to the SEC, he has yet to hire a lawyer of record, and he could not be found for comment...
This week, Antigua officials confirmed Stanford owns a nearby island, Guiana, as well as hundreds of acres on Antigua. Stanford is one of the largest private employers in Antigua, where his businesses include a real estate company, a cricket stadium, a newspaper and two restaurants...
...well-known womanizer, Stanford has been caught on giant video screens at cricket matches flirting indiscreetly with players' wives and girlfriends. In an interview with London's The Mail, Stanford's father, James, 81, detailed his son's many "outside wives," of which he said there are three, with four outside children. But he told Reuters that his son has six children "from several women." It's hard keeping it all straight...
...James Stanford could not be reached at his home in Mexia, Texas, for comment...